First Bank Unveils New Loan Offers for Its Customers

First Bank is one of the leading banks in Nigeria, providing convenient financial services to its customers. They have recently unveiled new loan offers to help customers achieve their financial goals. This article will discuss the new loan offers and how they can benefit you.

What are the new loan offers?

First Bank has introduced two new loan offers, the Personal Loan Against Salary (PLAS) and the FirstAdvance loan. The PLAS is a loan facility offered to customers with their salaries domiciled with First Bank. This loan is designed to help customers meet their financial needs before their next payday.

On the other hand, the FirstAdvance loan is a quick loan facility for up to six months. This loan is available to salary earners with a salary account with First Bank, designed to help customers with emergency financial needs.

How do I apply for the Personal Loan Against Salary (PLAS)?

To apply for a PLAS loan, your salary must be domiciled with First Bank. You can apply for the loan through First Bank’s internet banking platform or by visiting any First Bank branch. The loan is usually approved within 24 hours, and the funds are disbursed into your account.

What are the eligibility criteria for the Personal Loan Against Salary (PLAS)?

To be eligible for a PLAS loan, you must be a salary earner with your salary domiciled with First Bank. You must also have a clean credit history and a good credit score. You are eligible for the loan amount based on your income level and credit score.

How do I apply for the FirstAdvance loan?

To apply for a FirstAdvance loan, you must have a salary account with First Bank. You can apply for the loan through First Bank’s internet banking platform or by visiting any First Bank branch. The loan is usually approved within 24 hours, and the funds are disbursed into your account.

What are the eligibility criteria for the FirstAdvance loan?

To be eligible for a FirstAdvance loan, you must be a salary earner with a salary account with First Bank. You must have a clean credit history and a good credit score. You are eligible for the loan amount based on your income level and credit score.

What are the interest rates for the new loan offers?

The interest rates for the new loan offers vary depending on the loan amount and duration. However, the interest rates are competitive and affordable, making them a good option for customers needing quick cash.

What are the repayment terms for the loans?

The loan repayment terms vary depending on the loan amount and the loan duration. However, customers can repay the loan in installments or a lump sum. The repayment period ranges from one month to six months, depending on the loan offer.

What are the benefits of the new loan offers?

The new loan offers from First Bank come with several benefits, including:

1. – Quick approval and disbursement of funds
2. – Competitive interest rates
3. – Flexible repayment terms
4. – No collateral required
5. – Easy application process

How can I manage my loans with First Bank?

First Bank provides its customers with an internet banking platform that allows them to manage their loans and other financial transactions. Customers can access the platform through the First Bank website or download the mobile app from their app store.

Is there a penalty for late repayment?

Yes, there is a penalty for late repayment of loans. Customers who fail to repay their loans on time may be charged a penalty fee, which will be added to their outstanding loan balance.

Conclusion

First Bank’s new loan offers are designed to help customers meet their financial needs quickly and easily. The Personal Loan Against Salary (PLAS) and the FirstAdvance loan are both affordable and accessible, making them a good option for customers needing quick cash. To apply for these loans, visit any First Bank branch or apply through the internet banking platform.